But Is Buying a Home with Groupon a Good Deal for Homebuyers? A Hotseat for Realtors?

My colleague Sheree Curry at AOL really tackled the Groupon real estate deal and adds this caveat: could it be illegal? Some states, such as New York, have laws that prevent an agent from collecting an unearned commission. Let’s face it: there’s a LOT of backscratching going on in the real estate business. (Do not me started. Or do.) So let’s say you buy the Groupon but don’t close a house deal before the deadline: the broker may have to give the money back, whether you close eventually or not. Or what if, because of a fluke or appraisal issue, you don’t close on your home by the expiration date, like that’s never happened? The $25 ultimately becomes a money-back guarantee. An agent, Sheree reports, can also get around this by letting Groupon keep all the proceeds, or maybe donating to charity.

And as with any deal, for God sake, use your noodle. Don’t let the lure of a $1000 rebate make you buy a home you cannot afford or do not like. Like I said in my post, Groupon is a great tool for Realtors to weed out serious buyers from tire-kickers, and it generates leads. If you are shopping for a home, you may also try HouseTipper.com for more good deals, now in Dallas.